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26

Australian Lenders Are Clamping Down on Foreign Buying of Homes

By Tony Seruga

Westpac latest to tighten lending criteria for foreigners
Foreign demand for the nation’s housing is slipping, NAB says

Australian lenders are clamping down on home loans to foreigners as concerns about the health of the nation’s housing market mount.

Westpac Banking Corp. will no longer lend to offshore customers who aren’t citizens or who don’t hold appropriate residency visas, it said in an e-mail Wednesday. It follows Commonwealth Bank of Australia, National Australia Bank Ltd. and Australia & New Zealand Banking Group Ltd., which have tightened funding to overseas customers…

Australian Lenders Are Clamping Down on Foreign Buying of Homes

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